Cura Deuda

Cura Deuda operates within the Mexican financial services market, specializing in debt settlement for individuals. The company was founded in 2011 by Javier Velasquez and Juan Pablo Zorrilla. Both founders brought relevant experience to the venture; Velasquez had a background as a credit and risk director at a financial institution, while Zorrilla came from the private equity sector with experience at institutions like the Blackstone Group. This combination of credit industry insight and financial acumen shaped the company's approach to addressing the challenges of consumer over-indebtedness in Mexico. The firm's establishment coincided with a period of significant consumer credit expansion in the country, which also led to a rise in household debt levels, creating a clear market need for their services.

The business model centers on negotiating with creditors on behalf of its clients to achieve a reduction in the total amount owed. Cura Deuda primarily serves individuals struggling with unsecured debts, such as those from credit cards or personal loans, who find it difficult to meet their payment obligations. The company generates revenue by charging a fee for its services. This fee structure typically involves an initial setup fee and subsequent monthly payments from the client. A portion of these monthly payments accumulates in a savings account, which is then used to pay the negotiated, reduced settlement amount to the creditors.

The core service is a debt resolution program that includes financial and legal advisory. A key feature is the creation of a personalized savings plan tailored to each client's financial capacity. This plan is designed to allow the client to accumulate the necessary funds to pay off their settled debts over a specific timeframe. During this period, Cura Deuda manages communications with creditors, aiming to reduce collection-related stress for the client. The company claims it can secure discounts of up to 70% on the outstanding debt. Upon completion of the program and payment of the settled debts, the firm assists clients in improving their credit bureau standing, thereby facilitating their reintegration into the formal credit system.

Keywords: debt settlement, financial services, consumer debt, credit repair, negotiation, personal finance, debt relief, financial advisory, credit counseling, Mexico